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East Bayfront Revitalization Begins

Waterfront Toronto Short-Lists Developers to Bid on East Bayfront
TORONTO, June 19 /CNW/ - Waterfront Toronto today announced the
short-listed development teams to bid on two mixed-use development parcels in
East Bayfront, a vibrant new waterfront community steps from Toronto's
downtown core.
Teams were short-listed through two Requests for Qualifications (RFQ's)
issued March 14, 2008. 25 submissions were received.
Parkside, a one acre site at Queens Quay East and Lower Sherbourne
Street, has approximately 65,000 sq m (700,000 sq ft) of mixed-use development
potential. The short-listed development teams for Parkside are(*):
- The Daniels Corporation (Canada)
- The Great Gulf Group of Companies (Canada)
- Menkes Development Ltd. (Canada) and AEW Capital Management LP (USA)
- Tridel Builders Inc. (Canada) and Concert Properties Ltd. (Canada)
- Walker Corporation Pty Ltd. (Australia) and Cityzen Development
Corporation (Canada)
Bayside, a 13 acre site between Lower Sherbourne Street and Parliament
Street south of Queens Quay East, has approximately 160,000 sq m (1.7 million
sq ft) of mixed-use development potential. The short-listed development teams
for Bayside are(*):
- The Cadillac Fairview Corporation Limited (Canada), Monarch (Canada),
Fram Building Group Ltd. (Canada) and Albanese Development Corporation
(USA)
- Hines (USA)
- Menkes Development Ltd. (Canada) and AEW Capital Management LP (USA)
- Walker Corporation Pty Ltd. (Australia) and Cityzen Development
Corporation (Canada)
"I am thrilled with the quality and strength of the submissions. Each
team has understood our revitalization objectives and vision and each brings
to the table stellar architectural and environmental experience. The caliber
of these submissions bodes well for the coming transformation of our
waterfront," said John Campbell, President and CEO, Waterfront Toronto.
Parkside and Bayside form part of the 22-hectare (55 acre) East Bayfront
revitalization area. At full build-out, East Bayfront will include 6,000 new
homes (1,200 of which will be affordable), jobs for 8,000 people, a new
transit line, a 1.5 hectare (4-acre) waterside park and a 1.5 km continuous
water's edge promenade.
A Steering Committee comprised of members from Waterfront Toronto as well
as external sustainability, development and design experts evaluated the RFQ
submissions and the Honourable Justice Coulter A. Osborne, former provincial
Integrity Commissioner provided oversight of the fairness of the selection
process.
Design excellence and sustainable development are critical to the success
of waterfront revitalization. All the short-listed teams demonstrated strong
expertise and experience in these areas.
Waterfront Toronto will issue Requests for Proposals to the short-listed
teams this summer and expects to make the final selections by the end of 2008.
The first phase of revitalization in the East Bayfront is already
underway, with First Waterfront Place, an office building being constructed by
the Toronto Economic Development Corporation that will be the future home of
Corus Entertainment Inc.
The federal, provincial and city governments established Waterfront
Toronto to oversee and lead the renewal of Toronto's central waterfront.
(*) To view the full composition of each development team, please visit
www.waterfrontoronto.ca